The RPA’s Asset Loss Prevention Committee is exploring ways to help the industry minimize asset loss through education, sharing of best practices and legislation.
In the reusable packaging industry, asset loss occurs when assets do not survive their intended asset life. Loss can occur from misuse of assets, incorrect allocation of assets, mistreatment of the assets or theft. Some of the theft is pedestrian, like college students taking milk crates for their dorm rooms. Some of the theft is more organized with sophisticated systems that collect and redistribute stolen assets for profit.
“Fortunately, we can reduce asset loss significantly through education,” said Bob Klimko, chairman of the RPA’s Education Committee which includes the Asset Loss Prevention Committee. Klimko also is Director, Retail Supply Chain Marketing, Orbis Corporation. “Many companies do not have a good understanding of their inventory of reusable assets or where they are in their supply chains at any given time. They fail to monitor, inventory or pay attention to them until extreme loss or theft occurs. In order to understand where loss is occurring, a company must first understand how their reusable assets are used in their supply chains, and the processes being deployed to manage them.”
The Asset Loss Prevention Committee is promoting end user and law enforcement education activities to create awareness about the asset loss issue. The Committee also is making available best practice solutions that companies can implement to track their assets. The RPA has created curriculum that details the different types of identification and tracking methods, from inexpensive pen and paper systems to leading-edge RFID technology, for users to consider helping manage their reusable systems. The third focus of the Committee is better understanding of existing and proposed legislation related to asset loss.
“We encourage companies to join the RPA’s Asset Loss Prevention Committee as we continue to work on this important issue,” said Klimko. “The impact of loss can be significant; however, it can be prevented and we are working hard to help companies understand effective best practices.”
“The RPA Board recognizes that asset loss can be a significant issue and the Association is taking a more proactive leadership role in dealing with the challenge,” added Jerry Welcome, RPA President.
To learn more about resources and best practices on the topic of asset loss available from the RPA, or to join learn how you can contribute to the work of the Asset Loss Prevention Committee, contact the RPA at 703-224-8284 or email firstname.lastname@example.org.